The general ledger of Zips Storage at January 1, 2018, includes the following ac

Question

The general ledger of Zips Storage at January 1, 2018, includes the following account balances:

   

   

The following is a summary of the transactions for the year:

January 9 Provide storage services for cash, $134,100, and on account, $52,200.

February 12 Collect on accounts receivable, $51,500.

April 25 Receive cash in advance from customers, $12,900.

May 6 Purchase supplies on account, $9,200.

July 15 Pay property taxes, $8,500.

September 10 Pay on accounts payable, $11,400.

October 31 Pay salaries, $123,600.

November 20 Issue shares of common stock in exchange for $27,000 cash.

December 30 Pay $2,800 cash dividends to stockholders.

Insurance expired during the year is $7,000. Supplies remaining on hand at the end of the year equal $2,900. Provide services of $11,800 related to cash paid in advance by customers.

  Accounts Debits Credits   Cash $ 24,600   Accounts Receivable 15,400   Prepaid Insurance 12,000   Land 148,000      Accounts Payable $ 6,700   Deferred Revenue 5,800   Common Stock 143,000   Retained Earnings 44,500        Totals $ 200,000 $ 200,000 ?? Chapter 3 Problems × | e chegg Study | Guided Solut how to screenshot on hp-l + ? ? O ?ezto.mheducation.com/hm.tpx

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Unadjusted Trial Balance    Accounts Debits Credits    Cash $ 103,800.00    Accounts Receivable $    16,100.00    Prepaid Insurance $    12,000.00    Land $ 148,000.00 Supplies $      9,200.00    Accounts Payable $      4,500.00    Deferred Revenue $    18,700.00    Common Stock $ 170,000.00    Retained Earnings $    44,500.00 Service Revenue $ 186,300.00 Dividends $      2,800.00 Property Tax $      8,500.00 Salaries Expesnes $ 123,600.00 Insurance Expenses Supplies Expenses         Totals $ 424,000.00 $ 424,000.00

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